Business Owners Policy

What's in a BOP?

• Liability

  Provides protection if someone who isn’t an employee is injured or has property damage and your business is responsible. This includes common incidents such as slip-and-fall accidents involving customers or visitors.

• Property

  Just as with homeowner's insurance, we cover your building (if you are the owner) and what's inside - furniture, equipment, supplies, etc. If your property is destroyed by fire, your BOP will pay to rebuild or repair the building and replace any lost assets or inventory inside. 

• Loss of Business Income

  If your business is forced to pause or slow down because of a covered event, this coverage helps make up for lost income. It can help you cover ongoing costs while you recover.

• Crime & Burglary

  If your business is burglarized and your computers, office equipment, and other valuable items are stolen, your BOP will cover you up to a certain amount.

Is a BOP the Right Fit for My Business?

A BOP is not always a good fit for every business. This policy makes sense for small to mid-size businesses with few employees, small commercial space, and relatively low risks. Think of the types of businesses you see on Main Street USA, from the local hardware store to an antique shop, a beauty salon, or a restaurant. Larger businesses and those with higher risks are better suited for a Commercial Package Policy (CPP), which offers broader and more tailored insurance protection to cover the type of losses these businesses face. While most of the time this is true, size isn’t always the determining factor. Homogenous risks tend to qualify for the BOP more often than do unique risks. 
 
Not everything is covered under a BOP. For example, you need to purchase Workers Compensation. You need Commercial Auto insurance – even if you don’t own any business vehicles. If you move equipment, tools, and other owned property away from your business to another location, Inland Marine coverage will protect your stuff. We can go over all the coverages available that will address your specific needs.